ACC-248 Accounting Terminology

Credits: 3Contact Hours: Lec 3 This course will introduce students to different accounting terminology and regulations used in governmental/not-for-profit, tax, cost/managerial, fraud, medical, construction, criminology, and other various industries. Students will learn the fundamental differences in accounting for a governmental and not-for-profit entity versus a for-profit entity. Students will compare and contrast balance sheets and income statements for a corporation, partnership, proprietorship, not-for-profit and governmental entity. Tax terminology will be covered with the assignment of completing simple personal and corporate tax returns.